High demand prompts $10M expansion of NSW Northern Rivers retirement village
That’s significantly above Ballina’s average median sale price of $493,000
Contrary to the Fairfax report, Australians want retirement village accommodation and lifestyle. Not For Profit St Andrews Ballina will build 15 three-bedroom, double garage units priced from $550,000 to $650,000 in Ballina, 740km north of Sydney and 185km from Brisbane. That’s significantly above Ballina’s average median sale price of $493,000. Chairman of the St Andrews property committee Gary Tully told the local paper that the current demand for its existing villas – built over 20 years ago – had encouraged the board to invest in the new units. St Andrews Ballina already has 86 existing two-bedroom villa homes and a 123-bed nursing home in the area. “While the two bedroom units are enormously popular these new ones probably cater better to existing expectations,” he said. It just goes to show: even retirement units in regional areas can command the same price as typical properties – or even higher.
